FAW-Volkswagen signs $9 billion deal with Volkswagen for parts and vehicles imports in 2019

FILE PHOTO: Volkswagen's Bora vehicles are seen at a production line at the FAW-Volkswagen plant in Qingdao, Shandong province, China August 16, 2018. Picture taken August 16, 2018. REUTERS/Stringer - Copyright CHINA STRINGER NETWORK(Reuters)

By Reuters

Published on 06/11/2018 - 07:04•Updated 24/04/2024 - 21:30

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BEIJING (Reuters) - Volkswagen AG <VOWG_p.DE> and FAW-Volkswagen Automotive <000800.SZ> have signed a Memorandum of Cooperation under which the Chinese joint venture will import parts and vehicles worth about 62 billion yuan (6.9 billion pounds) in 2019, Volkswagen AG said on Tuesday.

The deal was signed during the China International Import Expo (CIIE) in Shanghai, Volkswagen AG said in a press release.